The pound euro (GBP/EUR) exchange rate is rising for a second day.

The euro is falling despite higher than expected eurozone inflation data. Inflation remained unchanged at 5.3% YoY in August. Expectations had been for a fall to 5.1%. Core inflation eased to 5.3% YoY from 5.5% in July.

The ECB will decide in 2 weeks whether to raise interest rates for a 10th straight meeting.

The pound is rising after hawkish comments from BoE chief economist Huw Pill who sees rates remaining elevated a long period to tame inflation.

There is no high impacting UK data due today, investors will continue digesting Pill’s comments.